[Kalshi Seeks to Block State Regulatory Enforcement in Nevada After Losing Injunction Protection, Plans to Appeal] According to a report by Jinse Finance, prediction market platform Kalshi lost its preliminary injunction to block enforcement by Nevada regulators on the eve of Thanksgiving. It is currently petitioning the court to continue blocking state regulatory actions during the appeal process. The court's decision to lift the injunction means that if Kalshi continues operating in Nevada, it could face potential legal risks. Similar to Polymarket, Kalshi offers prediction contracts covering sports, politics, crypto, and traditional markets. Kalshi believes that obtaining a CFTC license allows it to operate in all 50 states across the U.S., but some state regulators—particularly in Nevada—disagree. After the injunction was lifted, Nevada regulators stated that they would not immediately initiate enforcement actions before the court decides whether to grant a stay of execution. However, this does not equate to an administrative exemption issued by the court. The court has ordered state regulators to respond to Kalshi's petition by December 8, and Kalshi may submit a reply by December 12.